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 ToolTroll
tourettic
 
Registered: 08/02/04
Posts: 2,285
Loc: N. Cack
Last seen: 2 minutes, 7 seconds
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 Selling half a house? 
#15098382 - 09/18/11 11:42 PM (1 year, 7 months ago) |
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Here's the deal: I am co-owner of a house, we are both on the mortgage and are both living there. She has expressed interest in selling her half of the house to me, as we are no longer together and she wants to live elsewhere. How do we go about this? Any ideas?
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"This whole idea that different is bad, that a change in consciousness is in itself harmful, is really one of the fundamental problems inherent in the drug war.” - Rick Doblin
my cactus collection
You vote with your dollars. Everyday. Vote responsibly.
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 foodsgoodtoo
Drug adict
Registered: 02/13/09
Posts: 1,597
Last seen: 6 hours, 20 minutes
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 Re: Selling half a house? [Re: ToolTroll]
#15098930 - 09/19/11 01:30 AM (1 year, 7 months ago) |
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Write out a contract having the terms and the reasons why she is taking her name off the deed giving full ownership to you. Signed.
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Going down on sum pizza trimpt up wit some scissors!!
 
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Wiccan_Seeker
gold foil hat admin
Registered: 02/06/02
Posts: 33,566
Loc: Virgo Supercluster (or b...
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Re: Selling half a house? [Re: ToolTroll]
#15099855 - 09/19/11 10:27 AM (1 year, 7 months ago) |
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I don't know the exact circumstances but I just want to say that owning a house is the best investment you can make. All the mortgage you pay is not lost, but saved.
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 badchad
Mad Scientist
Registered: 03/02/05
Posts: 9,143
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Re: Selling half a house? [Re: ToolTroll]
#15100122 - 09/19/11 11:50 AM (1 year, 7 months ago) |
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This sounds moderately complex.
Whatever she has paid in should be appreciating. However, that profit/appreciation is not realized until the house is actually sold, and it's impossible to know when it'll be sold and how much profit you'll realize.
I'd be curious to hear how it ends up.
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...the whole experience is (and is as) a profound piece of knowledge. It is an indellible experience; it is forever known. I have known myself in a way I doubt I would have ever occurred except as it did.
Smith, P. Bull. Menninger Clinic (1959) 23:20-27; p. 27.
...most subjects find the experience valuable, some find it frightening, and many say that is it uniquely lovely.
Osmond, H. Annals, NY Acad Science (1957) 66:418-434; p.436
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 25,374
Loc: Street of Dreams
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Quote:
Wiccan_Seeker said:
I don't know the exact circumstances but I just want to say that owning a house is the best investment you can make. All the mortgage you pay is not lost, but saved.
Normally true I think. But houses in the US are very overpriced today. Much of the mortgage you pay now days depreciates away as houses fall to sane prices. I think we still have years of falling home prices ahead.
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ToolTroll
tourettic
Registered: 08/02/04
Posts: 2,285
Loc: N. Cack
Last seen: 2 minutes, 7 seconds
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Re: Selling half a house? [Re: badchad]
#15100606 - 09/19/11 02:06 PM (1 year, 7 months ago) |
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Quote:
badchad said:
This sounds moderately complex.
Yeah, that it is. We were a couple for over 13 years, then bought a house together and then broke up. We still live together (it's been about 3 years) because we are still friends and the house is split-level, separate bathrooms, separate entrances. It's working okay, but when she mentioned her desire to give up her half I jumped at the opportunity.
Financially we have split everything equally, except for a $10,000 down payment that came from her dad. But I have invested lots of sweat and blood into this house, and am emotionally invested. We bought it for 120k and it's probably still worth that.
I am also interested in refinancing, because the mortgage is a bit much for my wee salary. Should I do that before or after the sale? The appraisal would theoretically solve any questions of current house worth.
I've gotten really attached to this house, and would love to be able to move my current girlfriend in and begin the american dream of chicken ownership. 
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"This whole idea that different is bad, that a change in consciousness is in itself harmful, is really one of the fundamental problems inherent in the drug war.” - Rick Doblin
my cactus collection
You vote with your dollars. Everyday. Vote responsibly.
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